Nasdaq Inc. is still planning to launch its Bitcoin futures early next year, Bloomberg reported early this morning. Two individuals familiar with the Bitcoin project told Benjamin Bain, a reporter at Bloomberg, that despite the downturned market the index still plans on offering these contracts.

Bitcoin Futures

Bitcoin (BTC) has plunged nearly -75% since the beginning of the year and interest in digital currencies has dramatically decreased. Still, the Wall Street exchange feels there is enough investor interest to continue its plans. One of the individuals at Nasdaq told Bloomberg that the company has been working diligently to satisfy the concerns of the Commodity Futures Trading Commission before launch.

The first Bitcoin futures were launched mid-December 2017 by the CME Group Inc. and CBOE Global Markets Inc. Bitcoin (BTC) saw its record high of nearly $20,000 a coin after the first set of Bitcoin futures were launched. At press time, BTC is currently trading at just over $3,700. In December, many thought that these future contracts would usher in a new wave of investment from Wall Street investors, but the fall of digital currencies in 2018 proves that wasn’t the case.

Nasdaq hopes to launch its Bitcoin futures in Q1 2019. The futures offered in January will be based off Bitcoin’s price on numerous spot exchanges, said Nasdaq.com CEO Adena Friedman. The figures will be compiled by VenEck Associates Corp. The CME uses prices from four different markets, while the CBOE uses just one.

Nasdaq isn’t the only impending Bitcoin derivative though. The New York Stock Exchange owner, Intercontinental Exchange Inc., plans on launching its contracts in late January 2019. There has yet to be an official announcement from Nasdaq Inc., and the reports published by Bloomberg seem to be from unofficial sources. The major exchange could still pull the plug on its plans on Bitcoin futures, especially if Bitcoin (BTC) continues to drop.